vamshi4001/expiring-money

## expiring-money
On April 15th, an amount of $2400 hit bank accounts in the US for many as part of the stimulus check.
If I see it from another perspective - most of thsoe who receive this money will be saving it instead of using it for expenses.
I am talking about those who still have jobs and earning money.
To provide a perspective - if the newly printed money is being distributed to individuals to boost the economy, it should be in circulation.
However, people are saving this chunk of money instead of spending it to boost economy and keep the engine running.
What if there is a concept of *expiring money* - something like airline credits or visa gift card with an end date.
That makes it possible to get the money printed to be spent within a specific time and there's no chance for anyone to hoard this for future.

Another idea spawned from this, which is more interesting - because it could help stop the corruption globally, if not in most of the developing nations.
A common means of corruption is the money leaking out of contracts being done by entities, who take out that money and hoard it for future - thus making a fortune.
What if governments will adopt a form of digital currency, that is meant to be used only for certain contract.
Each contract will have a unique hash and all of the currency originates from this unique hash and is valid only till the contract is completed.
The currency generated for this contract can be spent only by people associated with this contract (everyone associated will have a public key to sign and they will be authorized based on that)
This will ensure the following
* Amount granted or released by government cannot be hoarded for future
* Amount granted will be spent on the contract as there is no other incentive to not use it
* Ability to track and trace the amount distributed for various workers and entities
* Tracable ability to reconcile all the payments being cashed out appropriately via smartcontracts

I will write another paper on complete implementation. This is something I am envisioning to build a platform on public or private blockchain and offer it as a service for governments to engage all their contracts using this system.
Lot of things here are my assumptions and could be fixed by collaborating with each other. Open for feedback and looking forward to listen to various inputs in making this system better and close to reality.
	On April 15th, an amount of $2400 hit bank accounts in the US for many as part of the stimulus check.
	If I see it from another perspective - most of thsoe who receive this money will be saving it instead of using it for expenses.
	I am talking about those who still have jobs and earning money.
	To provide a perspective - if the newly printed money is being distributed to individuals to boost the economy, it should be in circulation.
	However, people are saving this chunk of money instead of spending it to boost economy and keep the engine running.
	What if there is a concept of expiring money - something like airline credits or visa gift card with an end date.
	That makes it possible to get the money printed to be spent within a specific time and there's no chance for anyone to hoard this for future.

	Another idea spawned from this, which is more interesting - because it could help stop the corruption globally, if not in most of the developing nations.
	A common means of corruption is the money leaking out of contracts being done by entities, who take out that money and hoard it for future - thus making a fortune.
	What if governments will adopt a form of digital currency, that is meant to be used only for certain contract.
	Each contract will have a unique hash and all of the currency originates from this unique hash and is valid only till the contract is completed.
	The currency generated for this contract can be spent only by people associated with this contract (everyone associated will have a public key to sign and they will be authorized based on that)
	This will ensure the following
	* Amount granted or released by government cannot be hoarded for future
	* Amount granted will be spent on the contract as there is no other incentive to not use it
	* Ability to track and trace the amount distributed for various workers and entities
	* Tracable ability to reconcile all the payments being cashed out appropriately via smartcontracts

	I will write another paper on complete implementation. This is something I am envisioning to build a platform on public or private blockchain and offer it as a service for governments to engage all their contracts using this system.
	Lot of things here are my assumptions and could be fixed by collaborating with each other. Open for feedback and looking forward to listen to various inputs in making this system better and close to reality.